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Analyst: Gold Price Still Bullish, Non-Farm Payrolls and Trump Tariff Ruling Key Variables
Summary: According to sources, analyst Giuseppe Dellamotta stated that the gold price continues to be supported by geopolitical tensions and weak US data, with bullish momentum still strong. However, Friday's US non-farm payroll report may pose a challenge. Although the previous report's credibility was questionable due to the government shutdown, this data should provide a clearer ...
According to sources, analyst Giuseppe Dellamotta stated that the gold price continues to be supported by geopolitical tensions and weak US data, with bullish momentum still strong. However, Friday's US non-farm payroll report may pose a challenge. Although the previous report's credibility was questionable due to the government shutdown, this data should provide a clearer economic picture. Strong data could lead to a significant gold price pullback as traders delay expectations of a Fed rate cut; while weak data should continue to support gold price increases. Additionally, the US Supreme Court will announce its opinion on Trump's tariff policy on Friday. If the tariff measures are rejected, easing stagflation risks could lead to a drop in gold prices. Conversely, if the tariffs remain unchanged, although not causing significant changes, they will still support the upward trend in gold prices.
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Link: Analyst: Gold Price Still Bullish, Non-Farm Payrolls and Trump Tariff Ruling Key Variables [Copy]
